Swatch: Hayek family buys for more than 20 million after share slump
Published: Tuesday, Jul 16th 2024, 16:40
Zurück zu Live Feed
Share price losses hurt shareholders. However, they also offer confident investors a good opportunity to buy in or increase their stake. This is exactly what happened with the Swatch watch group, where the Hayek family bought more than CHF 20 million on Monday.
According to a management transaction published on Tuesday on the reporting page of the Swiss stock exchange, 607,879 Swatch registered shares changed hands the previous day for a good 20.6 million Swiss francs. The transaction was carried out by an executive member of the Board of Directors.
According to the report, the transaction was carried out jointly by three notifiable persons. This was the Hayek family, as a Swatch spokesperson confirmed the suspicion at the request of the news agency AWP. The family is prominently represented on the Board of Directors with Chairman Nayla Hayek, CEO Nick Hayek and his nephew Marc Hayek.
The largest Swatch shareholder is "naturally fully behind the Group and is strengthening its commitment to such an attractive share price", the spokesperson continued. This shows the strong identification and commitment of the family. However, he emphasized that this was not a Group transaction.
Share price plunges on Monday
The registered shares were purchased on Monday at CHF 33.94 each - a good average. At the beginning of the week, the shares had fallen by almost 10 percent following the publication of the half-year figures. They currently cost 34.05 francs.
As at the end of 2023, the "Hayek Pool" and companies, institutions and individuals associated with it controlled a total of 43.3 percent of all voting rights in the watch group through 62.5 million registered shares and 738,026 bearer shares.
Although the Swatch registered shares have a nominal value five times lower than the bearer shares listed in the SLI, a shareholder with these shares has the same voting rights as with a bearer share. Thus, thanks to its registered shares, the Hayek family is able to collect more than 40 percent of the votes with relatively "little" capital.
©Keystone/SDA
German 
English 
French 
Spanish 
Arabic